Berkshire Hathaway Energy Agreement to Acquire Oncor Terminated

DES MOINES, Iowa–(BUSINESS WIRE)–Berkshire Hathaway Energy today announced its proposal to acquire Energy
Future Holdings Corp. (EFH) and its interest in Oncor Electric Delivery
Company LLC (Oncor) has been terminated by EFH.

“We are disappointed our agreement to acquire Oncor has been
terminated,” said Greg Abel, Berkshire Hathaway Energy chairman,
president and CEO. “We are extremely grateful for the strong support and
extraordinary backing from all of the stakeholders in Texas. Our
experience working with Oncor, its management and employees, as well as
the State of Texas, has been exceptional, and we can’t thank those
involved enough for their professional and principled approach to the
transaction.”

Through the agreed upon 47 regulatory commitments, Texas stakeholders
have rightly focused on protecting Oncor from unnecessary risk,
including having no debt at intermediate holding companies. The
regulatory commitments were included in an agreement that was signed by
five significant parties that supported the proposal.

“Texas is a great state for business, and we look forward to future
opportunities to invest,” said Abel.

Berkshire Hathaway Energy
Berkshire
Hathaway Energy owns a portfolio of locally managed businesses that
share a vision for a secure energy future, make sustainable investments
to achieve that vision and had $85 billion of assets as of Dec. 31,
2016. These businesses deliver affordable, safe and reliable service
each day to more than 11.6 million electric and gas customers and
end-users around the world and consistently rank high among energy
companies in customer satisfaction. Berkshire Hathaway Energy is
headquartered in Des Moines, Iowa, U.S.A. Additional company information
is available at www.berkshirehathawayenergyco.com.

Forward-Looking Statements
This
news release contains statements that do not directly or exclusively
relate to historical facts. These statements are “forward-looking
statements” within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Forward-looking statements can typically be identified
by the use of forward-looking words, such as “will,” “may,” “could,”
“project,” “believe,” “anticipate,” “expect,” “estimate,” “continue,”
“intend,” “potential,” “plan,” “forecast” and similar terms. These
statements are based upon Berkshire Hathaway Energy Company’s current
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risks, uncertainties and other important factors. Many of these factors
are outside the control of Berkshire Hathaway Energy Company and could
cause actual results to differ materially from those expressed or
implied by such forward-looking statements. Factors that could cause
actual results to differ materially from those expectations include the
impact of natural disasters and weather effects on revenues and other
operating uncertainties, uncertainties relating to economic, political
and business conditions and uncertainties regarding the impact of laws
and regulations, including laws and regulations related to environmental
protection, changes in government policy and competition. The foregoing
factors that could cause Berkshire Hathaway Energy Company’s actual
results to differ materially from those contemplated in the
forward-looking statements included in this news release should not be
construed as exclusive and should be considered in connection with
information regarding risks and uncertainties that may affect Berkshire
Hathaway Energy Company’s future results included in Berkshire Hathaway
Energy Company’s filings with the Securities and Exchange Commission,
which are available at the Securities and Exchange Commission’s website (www.sec.gov).
Berkshire Hathaway Energy Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.

Contacts

Berkshire Hathaway Energy
Julie White, 515-242-3022
Vice
President, Corporate Communications
[email protected]